STL Networks Limited has informed the Exchange regarding Outcome of Board Meeting held on April 18, 2026.
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The Board of Directors of STL Networks Limited approved a preferential issue of up to 4.5 crore convertible warrants to Twin Star Overseas Limited, the promoter of the company. The warrants are priced at Rs. 24 each (including subscription and exercise price), aggregating to Rs. 108 crore. Each warrant is convertible into 1 equity share of face value Rs. 2 at a premium of Rs. 22 per share. The conversion can be exercised within 18 months from allotment. If not exercised, unexercised warrants will lapse and amounts forfeited. The Board also approved amendments to the Articles of Association to incorporate clauses related to securities issuance. Both proposals are subject to shareholder approval via postal ballot.
Promoter Twin Star Overseas Limited will increase its stake from 42.91% to 47.73% on a fully diluted basis. This is a significant capital raise of Rs. 108 crore from the promoter, which may dilute existing shareholders' equity upon warrant conversion. The move signals strong promoter confidence in the company.